The Goodyear Tire & Rubber Company (NASDAQ:GT) had its price target trimmed by J P Morgan Chase & Co from $40.00 to $38.00 in a report published on Monday. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Citigroup Inc. cut The Goodyear Tire & Rubber from a buy rating to a neutral rating and reduced their price objective for the stock from $38.00 to $36.00 in a report on Monday. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a sell rating to a hold rating in a research report on Saturday, October 21st. KeyCorp restated a buy rating and set a $37.00 price objective on shares of The Goodyear Tire & Rubber in a research report on Thursday, October 12th. Jefferies Group LLC restated a buy rating and set a $36.00 price objective on shares of The Goodyear Tire & Rubber in a research report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a sell rating to a hold rating and set a $37.00 price target for the company in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The Goodyear Tire & Rubber has an average rating of Hold and a consensus price target of $37.55.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be paid a $0.14 dividend. This is a positive change from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, October 31st. This represents a $0.56 annualized dividend and a yield of 1.87%. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 14.47%.

In other news, insider Jean Claude Kihn sold 7,500 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $33.26, for a total transaction of $249,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 15,501 shares of company stock valued at $507,866. Company insiders own 1.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in The Goodyear Tire & Rubber by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 670,709 shares of the company’s stock valued at $22,301,000 after purchasing an additional 4,331 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in The Goodyear Tire & Rubber by 15.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 146,118 shares of the company’s stock valued at $4,858,000 after purchasing an additional 19,322 shares during the period. State of Wisconsin Investment Board boosted its holdings in The Goodyear Tire & Rubber by 2.6% in the 3rd quarter. State of Wisconsin Investment Board now owns 533,394 shares of the company’s stock valued at $17,735,000 after purchasing an additional 13,547 shares during the period. Seatown Holdings Pte. Ltd. boosted its holdings in The Goodyear Tire & Rubber by 53.7% in the 3rd quarter. Seatown Holdings Pte. Ltd. now owns 953,300 shares of the company’s stock valued at $31,697,000 after purchasing an additional 333,000 shares during the period. Finally, Wilsey Asset Management Inc. bought a new position in The Goodyear Tire & Rubber in the 3rd quarter valued at $7,045,000. 90.02% of the stock is owned by institutional investors.

The Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

Analyst Recommendations for The Goodyear Tire & Rubber (NASDAQ:GT)

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